Why has Hollywood's optimism about indie studio STX faded?
LOS ANGELES - In late 2015, the fledgling studio STX Entertainment was riding high on the success of its first movie, a well-reviewed low-budget thriller titled "The Gift." It had grossed a healthy $44 million in domestic box-office revenue, following a red carpet premiere at L.A. Live.
"The Gift" was an early confidence boost for STX, whose co-founder Bob Simonds had set out with an ambitious, if counterintuitive, plan for his new studio: Bet on mid-budget movies driven by famous actors rather than well-known franchises. Backed by cash from Silicon Valley and China, the company also promised to take advantage of the burgeoning entertainment market in Asia.
But lately, the optimism surrounding STX, best known for the Mila Kunis comedy "Bad Moms" and the Kevin Hart vehicle "The Upside," has turned to morbid curiosity in Hollywood.
The company has released a string of box-office flops this year, including the animated musical "UglyDolls" and the
